Kinross Gold (NYSE:KGC) Stock Price Expected to Rise, Scotiabank Analyst Says

Kinross Gold (NYSE:KGC) (TSE:K) had its price objective upped by Scotiabank from $16.00 to $17.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a sector outperform rating on the mining company’s stock.

KGC has been the topic of several other reports. CIBC raised their target price on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, April 18th. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. BMO Capital Markets initiated coverage on shares of Kinross Gold in a research note on Wednesday, April 16th. They set an “outperform” rating on the stock. Finally, Raymond James upped their price objective on Kinross Gold from $12.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, April 4th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $13.50.

Kinross Gold Stock Performance

Shares of KGC stock opened at $15.05 on Thursday. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average price of $13.18 and a 200-day moving average price of $11.32. Kinross Gold has a 52 week low of $7.20 and a 52 week high of $15.96. The firm has a market capitalization of $18.52 billion, a PE ratio of 19.55, a P/E/G ratio of 0.68 and a beta of 0.64.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. The company’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. As a group, equities research analysts expect that Kinross Gold will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.80%. Kinross Gold’s payout ratio is 15.58%.

Institutional Investors Weigh In On Kinross Gold

A number of institutional investors have recently bought and sold shares of KGC. Jones Financial Companies Lllp boosted its stake in shares of Kinross Gold by 109.3% in the fourth quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock worth $25,000 after acquiring an additional 1,412 shares during the period. Mark Sheptoff Financial Planning LLC boosted its stake in Kinross Gold by 30.4% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock worth $40,000 after purchasing an additional 1,002 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Kinross Gold during the 1st quarter valued at approximately $55,000. SBI Securities Co. Ltd. bought a new stake in shares of Kinross Gold during the fourth quarter valued at approximately $42,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of Kinross Gold by 747.0% in the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock worth $50,000 after buying an additional 4,788 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.